The federal government has begun a $200 million program to aid the refinery industry and shore up the nation’s fuel security.

Energy Minister Angus Taylor told Chris Smith the government aims to take Australia’s fuel storage across the entire supply chain from 20 days to 90.

Grants will be awarded to the private sector to build 780 megalitres of diesel storage.

Mr Taylor said the investment in fuel security is necessary in an “increasingly uncertain” world.

“Like the pandemic, it’s not something you think about every day, but I tell you what if you run out of fuel … it’s not a good day.”

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